RFR Realty announced a lease expansion with Temasek at 375 Park Avenue – Seagram Building.
The Singapore-based global sovereign wealth fund with a portfolio of approximately $197 billion, expanded its lease to approximately 23,000 s/f.
Founded in 1974, the company has 11 offices around the world including London; Beijing; Washington, DC; and San Francisco. Brian Goldman of Newmark Knight Frank represented Temasek in the expansion.
Additionally, Brazilian-based law firm Demarest Advogados signed a new 10-year lease for a pre-built space in the tower of the building.
Founded in 1948, Demarest Advogados is one of the most respected law firms in Brazil and Latin America. The tenant has multiple office locations in Brazil as well as New York City.
Aron Schreier and David Mainthow of Cushman & Wakefield acted on behalf of the tenant in the transaction.
Nearwater Capital has also joined the roster of exclusive tenants. Founded by James Peterson, Nearwater Capital is a specialty finance company. The tenant signed a new lease for part of a tower floor at the property.
Kip Orban of JLL represented Nearwater Capital in the transaction.
In each of the transactions, RFR was represented in-house by AJ Camhi and Ryan Silverman, along with a leasing team from JLL that includes Benjamin Bass, Diana Biasotti, Kristin Morgan and Kip Orban.
“375 Park Avenue continues to attract leading global firms,” said Camhi, director of leasing at RFR Realty. “We are excited to see established tenant Temasek expand its footprint in our building and welcome, Demarest Advogados and Nearwater Capital.”